The inventory turnover is calculated using the annual cost of goods sold and the aggregate inventory value on average. True or False?
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The inventory turnover is calculated using the annual cost of goods sold and the aggregate inventory value on average. True or False?
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.In ABC analysis, 50 to 60 percent of the number of items in inventory but only about 10 to 15 percent of the annual dollar value represent Select one: a. B items b. C items C. A items d. A or C itemsA restaurant has annual sales of $420,000, an average inventory of $6000, and an annualcost of goods sold of $264,000. What are the restaurant’s days-of-supply of inventory?(Assume 365 days per year.)
- A bicycle manufacturer purchases bicycle seats from an outside supplier for $22 each.The manufacturer’s inventory of seats turns over 1.2 times per month, and the manufacturer has an annual inventory holding cost of 32 percent. What is the inventory holdingcost (in $) for a bicycle seat?A firm has P5,000,000 of inventory on average and annual sales of P30,000,000. Assume there are 365 days per year. What is the firm’s inventory conversion period?You are the operations manager of a firm that uses the continuous review inventory control system. Suppose the firm operates 252 days a year and has the following characteristics for its primary item: Demand = 25,000 units/year Ordering cost = $30/order Holding cost = $1/unit/year Lead time = 4 days Standard deviation in daily demand = 10 units What is the total holding cost per year, including annual holding cost for safety stock (to the nearest whole number)? (Service level=95%) answer is 645 but why?
- A restaurant has annual sales of $423,000, an average inventory of $6,300, and an annual cost of goods sold of $260,000. (Round your answer to 1 decimal place.) What is the restaurant's days-of-supply of inventory? (Assume 365 days per year.) daysA local bookstore turns over its inventory once every four months. The bookstore's annual cost of holding inventory is 36 percent. What is the inventory holding cost (in $) for a book that the bookstore purchases for $10 and sells for $18? ANSWER 6 A bicycle manufacturer purchases bicycle seats from an outside supplier for $20 each. The manufacturer's inventory of seats turns over 12.44 times per year, and the manufacturer has an annual inventory holding cost of 32 percent. What is the inventory holding cost (in $) for a bicycle seat? ANSWERAs the Manager of Branson’s Department Store, you are responsible for ensuring that reorder quantities for the various items have been correctly established. You decide to test one item and choose product Z. A continuous review inventory policy has been used, so you examine this as well as other records and come up with the following data: Cost per unit $35 Holding cost 20 percent of unit cost Average daily demand 10 units Ordering cost $30 per order Standard deviation of daily demand 3 units Delivery lead time 4 days Because customers generally do not wait but go elsewhere, you decide on a service probability of 90 percent. Assume that Branson’s Department Store operates 320 days per year. [What is the annual demand (D)? Determine the optimal order quantity, Q*. Determine the reorder point (R) if demand is constant. Determine the reorder point (R) if demand is varies.
- What distinguishes vendor-managed inventory from conventional inventory management?Your company is streamlining its inventory management systems and has evaluated its inventory purchasing using the Economic Order Quantity (EOQ) model. 75,000 units are used annually. Each unit costs $50. The order cost (per order) is $180 and the carrying cost per item per year is $40. On the basis of this information it is recommended that the EOQ is 822 units per order. Unfortunately the supplier of inventory has a minimum order quantity of 2,000 units. How much more will it cost your company each year in total because of this supplier requirement? Show your workings.what are the endogeneous and expgeneous variable for total inventory in semiconductor industry